Carpenter Technology Co. (NYSE:CRS) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Carpenter Technology Co. (NYSE:CRS) by 15.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,967 shares of the basic materials company’s stock after purchasing an additional 1,717 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Carpenter Technology were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CRS. FMR LLC raised its stake in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after purchasing an additional 479,985 shares during the last quarter. Forest Avenue Capital Management LP acquired a new position in Carpenter Technology in the 3rd quarter valued at about $25,262,000. Raymond James Financial Inc. acquired a new position in Carpenter Technology in the 4th quarter valued at about $18,731,000. Finally, Holocene Advisors LP acquired a new position in Carpenter Technology in the 3rd quarter valued at about $17,337,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Up 4.2 %

Shares of CRS stock opened at $183.76 on Monday. The firm has a market cap of $9.18 billion, a P/E ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 1-year low of $65.26 and a 1-year high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The firm’s 50-day simple moving average is $194.79 and its 200-day simple moving average is $175.83.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, equities analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology’s payout ratio is 15.09%.

Analyst Ratings Changes

Several brokerages recently weighed in on CRS. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.